Great Southern Bancorp, Inc. (NASDAQ:GSBC) Q3 2022 Earnings Conference Call October 20, 2022 3:00 PM ET
Company Participants
Kelly Polonus - IR
Joe Turner - President and CEO
Rex Copeland - CFO
Conference Call Participants
Andrew Liesch - Piper Sandler
Damon DelMonte - KBW
John Rodis - Janney
Operator
Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Great Southern Bancorp Incorporated Third Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions]
At this time, I would like to turn the conference over to Ms. Kelly Polonus. Ma'am, please begin.
Kelly Polonus
Thank you, Howard. Good afternoon and welcome. The purpose of this call is to discuss the company's results for the quarter ending September 30, 2022.
Before we begin, I need to remind you that during this call, we may make statements about future events and financial performance. Please do not place undue reliance on any forward-looking statements, which speak only as of the date they are made. Please see our forward-looking statements disclosure in our third quarter 2022 earnings release for more information. President and CEO, Joe Turner; and Chief Financial Officer, Rex Copeland, are on the call with me today.
I'll now turn the call over to Joe.
Joe Turner
Okay. Thanks, Kelly. Good afternoon, everyone. We appreciate you joining us today for our third quarter earnings call. Our third quarter earnings continued to be strong, continuing our momentum from the second quarter. We're focused on ensuring that our company is properly positioned, especially in light of the changing interest rate environment that we're in.
As always, we are concentrating on building lasting relationships with our customers and making decisions that are in the best interest of all our constituents over the long term. Our great team of associates understands this and is working hard every day to fulfill this mission. I'm really proud of our team.
As usual, I'll provide some brief remarks about the company's performances and then turn the call over to Rex Copeland, who will go into more detail on our financial results. Then we'll open it up for questions.
In the third quarter of 2022, we earned $18.1 million or $1.46 per diluted common share compared to $20.4 million or $1.49 per diluted common share for the same period in 2021. It was a decrease of $2.3 million from the prior year quarter. But how we got there was significantly different in both quarters. So, I do want to go into a little bit more detail. First of all, in the third quarter of 2022, we earned $8 million more in net interest income than we did in the same quarter a year ago. And this was even after earning $1.6 million in PPP fee accretion in the 2021 quarter.